With the responsibilities of auctioning some of my grandfather's coins comes a certain sadness. It's a bit frustrating to be in possession of an extremely rare coin and not be able to keep it in the family because of financial obligations. The money accrued from the sale must be divided amongst my siblings, and I don't have the funds to purchase their interest in the item. There are only two known pieces of the eight which were minted. It would be a great investment to hold on to, but there are no receptive ears in this family. So off to Ebay it must go. And one more piece of my grandfather's legacy disappears. Does it really matter, maybe not on an esoteric level. But from my perspective there seems to be a certain value which should be given history and legacy. But I am only one voice against five. So today I lose.
If it is as rare as you claim it is, why on earth would you choose ebay? That seems financially irresponsible to me and a breach of fiduciary duties that may cause you legal issues in the future with the other heirs.
First question, What does it weigh? In grams to 2 decimals please. Further advice will depend on the answer to that question. Alternate question, has it been certified by a major service? Please answer one or both questions.
Well, the problem is two-fold: 1) The catalog value is $3000. Basically, eBay _might_ be the best venue given the potential sales price v potential marketing cost. 2) The demand is much lower than one would expect for the supposed rarity (8 known examples). Beyond all of that, the OP would need to have the coin authenticated by a TPG in order for a real auction house to post it. However, assuming the information given about there being only two known examples (which would include the OP's coin) true, the coin would be documented as a legacy coin with provenance. If THAT is the case, the OP should definitely submit the coin to a coin auction house. Hopefully, they can get it authenticated/graded at a discount and get "top dollar" for the coin.
Thank you for pointing out the additional dynamic concerning my responsibility to my siblings in making judicious decisions as executor. Under normal circumstances you would be correct in saying Ebay may not be the most appropriate place to feature these coins. In this case though, especially in consideration of (as you mentioned) my fiduciary duty, I listed them not as an auction but with set prices. In this way I can gauge both value and market interest without jeopardizing any of the items placed in my care. Thank you.
Because of their rarity these coins have gotten little or no exposure. The market is basically unaware of their existence, and therefore there is little demand for them at this time. But given the opportunity to be uncovered and written about, and their scarcity featured to the numismatic community, their potential demand both in historical reference and as intrinsic investment is huge. These coins are sleepers, and yet to find their place in the market.
